Free Trial

NYMEX RBOB: (Z18) No Sign Of A Bottom.....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (Z18) No Sign Of A Bottom
*RES 4: $2.1464 - High Oct 10 
*RES 3: $2.0939 - High Oct 9 
*RES 2: $1.9887 - High Oct 17 
*RES 1: $1.8644 - 200-dma 
*PRICE: $1.6851 @ 06:10 GMT
*SUP 1: $1.6234 - Low Mar 2 
*SUP 2: $1.5929 - Low Feb 9 
*SUP 3: $1.5000 - Support 
*SUP 4: $1.3756 - Low Aug 18, 2017 
RBOB futures continue to head lower with no signs of a bottom to be found. The
March 2 low at $1.6234 is the next downside target, below which opens the Feb 9
and ytd low at $1.5929. While momentum is becoming oversold the bearish trend
remains clear and it would take a recovery of the 200-dma at $1.8644 to
materially improve the outlook.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.